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Landsec to redesign Moorfields scheme for German bank

Landsec is set to expand its scheme above Moorgate underground station in central London after agreeing a pre-let with Deutsche Bank.

The developer is due to submit revised plans for the scheme, which will be located directly above the tube station and form the western entrance to the new Liverpool Street Crossrail station, after the German bank agreed to take a 25-year lease on 469,000 sq ft of space.

The bank is set to make the office its new London headquarters, with the lease agreement conditional on the scheme gaining planning consent.

Keltbray was appointed as demolition and piling works contractor for the project ahead of the main construction works.

Two office buildings will be constructed: one over 16 levels and the other over eight.

Landsec purchased the site for £16.5m and submitted a planning application to the City of London in February 2015.

The development was given the green light in 2016, but Landsec will now submit a new planning application for a revised scheme later this year.

The previous scheme at 21 Moorfields had been given the green light by the City of London.

Completion has been earmarked for November 2021.

Last month Landsec sold its 50 per cent share in the Walkie Talkie tower (20 Fenchurch Street) to Hong Kong investment firm Lee Kum Kee for £641.3m. The deal valued the skyscraper at £1.28bn – a new record for a single building in the UK.

Landsec previously agreed a deal for Deutsche Bank to move its asset management and wealth management divisions to The Zig Zag building in south-west London.

Lendlease scooped the £170m construction contract for the to build The Zig Zag in 2013.

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